Dianne C. Whitfield Sells 2,137 Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Stock

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) insider Dianne C. Whitfield sold 2,137 shares of the business’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $50.11, for a total transaction of $107,085.07. Following the completion of the sale, the insider now owns 46,355 shares of the company’s stock, valued at approximately $2,322,849.05. This represents a 4.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Tarsus Pharmaceuticals Stock Performance

NASDAQ TARS opened at $49.97 on Friday. The firm has a market capitalization of $1.92 billion, a P/E ratio of -13.12 and a beta of 1.05. The stock has a 50-day simple moving average of $48.48 and a two-hundred day simple moving average of $45.21. The company has a debt-to-equity ratio of 0.30, a quick ratio of 5.38 and a current ratio of 5.42. Tarsus Pharmaceuticals, Inc. has a fifty-two week low of $20.08 and a fifty-two week high of $57.28.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.60) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.08. Tarsus Pharmaceuticals had a negative return on equity of 55.86% and a negative net margin of 103.64%. The company had revenue of $66.41 million during the quarter, compared to analysts’ expectations of $58.80 million. On average, equities analysts forecast that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

TARS has been the subject of a number of recent research reports. Jefferies Financial Group boosted their target price on shares of Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. HC Wainwright reiterated a “buy” rating and set a $73.00 price objective on shares of Tarsus Pharmaceuticals in a research note on Wednesday, February 26th. Oppenheimer raised their target price on shares of Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. Barclays reduced their price target on Tarsus Pharmaceuticals from $62.00 to $60.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Finally, Guggenheim reissued a “buy” rating and issued a $78.00 price objective (up previously from $75.00) on shares of Tarsus Pharmaceuticals in a research report on Monday, February 24th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Tarsus Pharmaceuticals has an average rating of “Buy” and a consensus target price of $63.67.

Institutional Trading of Tarsus Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in Tarsus Pharmaceuticals by 2,088.8% in the third quarter. JPMorgan Chase & Co. now owns 440,167 shares of the company’s stock valued at $14,477,000 after buying an additional 420,057 shares in the last quarter. Vestal Point Capital LP purchased a new position in shares of Tarsus Pharmaceuticals in the 3rd quarter valued at about $7,565,000. Jennison Associates LLC raised its holdings in Tarsus Pharmaceuticals by 14.8% in the 4th quarter. Jennison Associates LLC now owns 2,500,132 shares of the company’s stock worth $138,432,000 after purchasing an additional 321,552 shares during the period. Verition Fund Management LLC purchased a new position in Tarsus Pharmaceuticals during the third quarter worth approximately $763,000. Finally, Mutual of America Capital Management LLC acquired a new stake in Tarsus Pharmaceuticals in the third quarter valued at approximately $4,291,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Tarsus Pharmaceuticals Company Profile

Tarsus Pharmaceuticals, Inc, a commercial stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutic candidates for eye care in the United States. The company's lead product candidate is XDEMVY, a novel therapeutic for the treatment of blepharitis caused by the infestation of Demodex mites, as well as to treat meibomian gland disease.